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CITY OF HUGO, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS (CONTINUED) <br />4. Other Information (Continued) <br />C. Pension Plans (Continued) <br />2. Hugo Firefighter's Relief Association <br />D. Pension Costs (continued) <br />The following table presents the changes in net pension liability (asset) during the year. <br />Beginning Balance 12/31/14 <br />Changes for the Year <br />Service cost <br />Interest on pension liability <br />Plan changes <br />Net investment income <br />Contributions (state) <br />Administrative expenses <br />Net Changes <br />Balance End of Year 12/31/15 <br />Total Fiduciary Net Pension <br />Pension Net Position Liability <br />Liability (a) (b) (Asset) (a -b) <br />$ 721,352 $1,111,300 $ (389,948) <br />29,535 <br />29,535 <br />48,691 <br />48,691 <br />12,058 <br />12,058 <br />3,233 <br />(3,233) <br />81,540 <br />(81,540) <br />(10,200) <br />10,200 <br />90,284 <br />74,573 <br />15,711 <br />$ 811,636 <br />$1,185,873 <br />$ (374,237) <br />For the year ended December 31, 2015, the City recognized pension expense (benefit) of <br />$(63,069). <br />At December 31, 2015, the Association reported deferred inflows of resources and deferred <br />outflows of resources related to pension from the following sources: <br />Difference between projected and actual <br />investment earnings <br />Total <br />62 <br />Deferred Deferred <br />Outflows of Inflows of <br />Resources Resources <br />$ $ 8,986 <br />$ $ 8,986 <br />